In the News 2017

The Best Investment Since 1926? Apple

September 22, 2017 | The New York Times

He relied on a database developed at the University of Chicago, known as CRSP, for the Center for Research in Security Prices, that contains virtually all publicly traded stocks in the United States. The Center for Research uses rigorous and logical criteria to determine when stocks enter and depart its listings, with some results that may seem surprising at first glance.

THE BOTTOM LINE: The 'Trump trade' is back and Ray Dalio breaks down the bitcoin bubble

September 21, 2017 | Business Insider

Silverstein talks with University of Chicago Booth School of Business professor Luigi Zingales about whether companies should maximize market value. Zingales discusses a research paper he authored, which makes the point that profit maximization is important to shareholders, but it’s not the only thing they care about.

Big technology firms are newly in the hot seat at home

September 21, 2017 | The Economist

Luigi Zingales and Guy Rolnik, both of the University of Chicago, have called for legislation to reallocate the ownership of data created on social media to users.

Important for BOE's Carney to react after Brexit vote

September 20, 2017 | CNBC

Randall Kroszner, former governor at the Federal Reserve, says that Bank of England head Mark Carney was reasonable to expect downside risk post-Brexit.

Beginning of the End for QE

September 20, 2017 | BBC

A decade on from the financial crisis, the US Federal Reserve is likely to formally announce the process of unwinding quantitative easing. The BBC's Dominic O'Connell speaks to Randy Kroszner.

The Tide Is Turning Against Big Tech’s Monopolies—Because of U. of C.

September 20, 2017 | Chicago Magazine

One of the major drivers of this rethinking is Luigi Zingales, a professor of finance at the U. of C.’s Booth School of business and a prolific writer who’s been sounding the alarm about monopoly power and crony capitalism since he saw his adopted country moving towards the dysfunctional model of his native Italy.

Where MBA Apps Are Way Up — And Down

September 18, 2017 | Poets & Quants

At least 16 of the top 25 U.S. schools are reporting application increases in 2016-2017, with four programs showing double-digit rises in the number of candidates wanting a seat in their MBA classes. At both the University of Chicago’s Booth School of Business and Carnegie Mellon’s Tepper School of Business, applications rose 13.5% last year.

Calgary Flames’ arena tantrum masks inconvenient truth: Economic payoff isn’t there

September 18, 2017 | The Globe and Mail

The University of Chicago's Booth School of Business recently asked a panel of 50 prominent U.S. economists whether the benefits of subsidizing professional sports venues exceed the cost to taxpayers. Nearly six out of 10 said no.

The Amazon Monopoly Problem: Prime Time For Antitrust Action Vs. These Internet Giants?

September 16, 2017 | Investor's Business Daily

Luigi Zingales, finance professor at the University of Chicago Booth School of Business, is calling for a more-proactive antitrust approach that would have kept Facebook from buying up Instagram and WhatsApp.

A Thinking Person’s Guide to Going With Your Gut

September 14, 2017 | New York Magazine

My first problem, it seems, is thinking of these two modes as a binary, said Reid Hastie, who studies decision-making at the University of Chicago Booth School of Business. “I actually think it’s better to describe them as a continuum,” says Hastie, author of the 2009 book Rational Choice in an Uncertain World: The Psychology of Judgment and Decision Making. “Almost any thought process we’re interested in is a combination of the two.”

What Employers Want From MBA Graduates

September 14, 2017 | Poets & Quants

Julie Morton is associate dean of careers services and corporate relations at Booth. She says half of her team is responsible for spreading the word about the value of hiring MBA grads.

Wages are stagnating, robots are taking our jobs. This Democrat has a $1.4 trillion solution.

September 12, 2017 | Vox

"The EITC, in addition to being good economics and encouraging more low-income people to work, gives Democrats an entree into the [tax-policy debate] that doesn't focus on the groups at the top that don't really need more tax cuts," said Austan Goolsbee, former chair of Obama's Council of Economic Advisers, now a University of Chicago economics professor.

Who will lead Chicago's Amazon charm offensive?

September 12, 2017 | Crain's Chicago

Mark Tebbe, founder of Answers.com: Tebbe, now adjunct professor of entrepreneurship at the University of Chicago Booth School of Business, involves himself in most things tech and entrepreneurial; aside from civic pride, who knows if he would devote time to bringing an established company to the city.

Old questions, new answers: The changing narrative of the great recession

September 12, 2017 | Livemint

The widely-accepted consensus of what fuelled credit growth in the run-up to the Great Recession (2007-09) has been largely consistent and has centered on the findings of Atif Mian of Princeton University and Amir Sufi of Chicago Booth School of Business.

Colorado, Texas Lead Public University Funds in Investment Gains

September 11, 2017 | Bloomberg

“What the stock market does drives a lot of this,” said Steven Kaplan, a professor of entrepreneurship and finance at the University of Chicago’s Booth School of Business. “And in fiscal ’17, the stock market was great.”

Why Your Economic Argument Against Immigration Is Probably Wrong

September 11, 2017 | Fortune

In a poll on highly skilled immigration, a whopping 95% of economists who answered thought that the average American would be better off with more immigrants; the other 5 % were uncertain.

Trump could force a repeat of the Federal Reserve’s worst modern-day policy blunder

September 9, 2017 | Business Insider

"He wants someone at the Fed where he can call them and say 'I want you to do A, B and C,'" said Austan Goolsbee, University of Chicago economist and former top economic advisor to President Barack Obama, in an interview with CNBC.

Don’t let pharma take down a new Maryland price gouging law

September 9, 2017 | Business Insider

The problem is unlikely to go away on its own. Studies by University of Chicago economist Rena Conti and Harvard University pharmaceutical policy researcher Aaron Kesselheim show that more than 50 percent of all off-patent drugs are produced by two or fewer manufacturers.

There was no fixed date for demonetisation: Raghuram Rajan

September 8, 2017 | Forbes India

Rajan took over as RBI chief on September 4, 2013, and held the position for three years before going back to teaching at the University of Chicago.

The truth about the gender wage gap

September 8, 2017 | Vox

"We decided to focus on MBAs, because if you think about women’s access to the top echelons, the corporate sector is one where they have had a particularly difficult time," says Marianne Bertrand, an economist at the University of Chicago who led the study.

3 Ways to Ruin Your Investing Strategy

September 8, 2017 | U.S. News

This psychological phenomenon is known as "mental accounting," a phrase popularized by Richard Thaler, a behavioral economist at the University of Chicago's Booth School of Business, and it's important to understand how it can adversely affect your personal finances.

Austan Goolsbee: President wasn't on top of the details and just made a deal.

September 7, 2017 | Business Insider

Discussing the outlook for future policy moves likes tax reform after President Trump sided with the Democrats over the debt ceiling with Lanhee Chen, Hoover Institution fellow and former Romney and Rubio campaign advisor, and Austan Goolsbee, University of Chicago's Booth School of Business and former Council of Economic Advisors chair.

FACT CHECK: Are DACA Recipients Stealing Jobs Away From Other Americans?

September 6, 2017 | NPR

In a February survey from the University of Chicago, two-thirds of economists surveyed disagreed with the premise that "if the U.S. significantly lowers the number of H-1B visas now, employment for American workers will rise materially over the next four years." None agreed. (The rest had no opinion or did not answer.)

When a Company Is Making Money From the Opioid Crisis

September 6, 2017 | The Atlantic

John Paul Rollert, who teaches ethics at the University of Chicago’s Booth School of Business (and who writes frequently for The Atlantic), agrees with McDonald that there isn’t—or shouldn’t be—any real difference in standards between “business ethics” and human ethics.

How Local Housing Regulations Smother the U.S. Economy

September 6, 2017 | The New York Times

Op-ed by Chang-Tai Hsieh - If you live in a coastal city like New York, Boston or San Francisco, you know that the cost of housing has skyrocketed. This housing crisis did not happen by chance: Increasingly restrictive land-use regulations in the last half-century contributed to it.

Taking Advantage Of Behavioral Economics Can Get Aid To More People In Poverty

September 5, 2017 | Fast Company

“Even considering just a couple of the most widely and thoroughly researched behavioral science principles, [they have] the potential to improve the effect of development programs and development policies–in some cases pretty dramatically–at little or no cost,” says Christopher Bryan, an assistant professor at University of Chicago Booth School of Business, who co-authored the report.

Manage your ego — and more advice for MBA students

September 5, 2017 | Financial Times

“Students must be prepared to challenge themselves, rather than prove themselves. And be open to challenge from others. MBAs must be willing to engage in everything on offer because the qualification goes way beyond just taking classes." - Professor Ayelet Fishbach, professor of behavioural science and marketing, University of Chicago Booth School of Business

Economists don't think price gouging is a problem. But what about our social values?

September 1, 2017 | Marketplace

“They are misunderstanding that if you piss people off, you pay a price,” said Richard Thaler, an economist at the Booth School of Business at the University of Chicago.

Raghuram Rajan On Demonetisation: One Still Cannot In Any Way Say It Has Been An Economic Success

September 3, 2017 | Huffington Post

In a recent interview with The Times of India, Raghuram Rajan, former governor of the Reserve Bank of India, said that it was important for India to get its citizens to pay tax, but that demonetisation had not proved to be a fruitful exercise.

Instead of tax reform go to cuts

August 31, 2017 | CNBC

Austan Goolsbee, University of Chicago Booth School of Business, and Diane Swonk, DS Economics founder and CEO, discuss Treasury Secretary Steve Mnuchin's comments on tax reform and raising the debt ceiling.

What employers want from MBA graduates — and what they don’t

August 31, 2017 | Financial Times

Business schools are reacting by trying to broaden the pool of MBA employers. At Chicago’s Booth School of Business, technology companies such as Amazon and Google have overtaken management consultancies and investment banks as the biggest hirers in recent years.

Harvey’s economic impact will be like the housing bubble popping, says Austan Goolsbee

August 31, 2017 | Fox

Austan Goolsbee, former chairman of the Council of Economic Advisers under the Obama Administration, on Thursday compared the housing market crash, which began in 2007, to the economic damages Hurricane Harvey is set to cause the state of Texas.

‘Pick-And-Choose’ Policies Helping Populist Nationalism: Raghuram Rajan

August 31, 2017 | Bloomberg

As routine jobs get outsourced and automated, “moderate education no longer cuts it”, Rajan said in a keynote address at a conference at the Stigler Center at the University of Chicago Booth School of Business on political economy of finance.

Scholar says Google criticism cost him job: 'People are waking up to its power'

August 31, 2017 | The Guardian

Pressure for change is mounting. Luigi Zingalesm, a professor at the University of Chicago Booth School, recently told the Financial Times that he and others believe antitrust laws should be reverted back to old laws that also limited political power – and in particular, continued the FT article, “the ability of rich companies and people in coastal areas to control everyone and everything else”.

Chicago Booth Review Explores How to Create Middle-Class Jobs

August 30, 2017 | WTTW

This skills gap is just one impediment to increasing the number of Americans who hold well-paid, full-time employment. “How to Create Middle-Class Jobs,” the September cover story in Chicago Booth Review, discusses a range of obstacles, including education and preparedness, infrastructure and regulation. (The University of Chicago Booth School of Business publishes the magazine.)

Austan Goolsbee Expects U.S. Debt Ceiling to Be Raised

August 30, 2017 | Bloomberg

Austan Goolsbee, economics professor at the University of Chicago Booth School, discusses the outlook for U.S. budget negotiations with Bloomberg's Vonnie Quinn on "Bloomberg Markets."

What I Learned About Relationships From 30 Days Without Texting

August 29, 2017 | Success.com

Nicholas Epley, the John T. Keller Professor of behavioral science at the University of Chicago and author of Mindwise: How We Understand What Others Think, Believe, Feel, and Want, says what’s lost is something fundamental to human connection—something we don’t even realize happens during a conversation.

MBA Application: 6 Of The Best US Business Schools For Social Impact

August 29, 2017 | Business Because

Chicago Booth is home to a social impact hub, the Rustandy Center for Social Sector Innovation, which equips graduates “with the knowledge and tools to positively impact humanity.”

How old is too old for an MBA? Depends what you want.

August 17, 2017 | Chicago Tribune

At the University of Chicago, the 2017 incoming class of executive MBA candidates is 37 years old on average, with 13 years of experience. For the past five years, an average 31 percent of the incoming class of executive MBA students have been age 40 or older.

Americans Are Choosing Paid Jobs Over Family Caregiving

August 18, 2017 | Bloomberg

The thing is, it doesn't seem to matter all that much for consumer spending, according to an analysis by economists including Amir Sufi and Atif Mian.  That's puzzling, but it doesn't mean that the optimism gap is unimportant.

Kroszner Sees Chance of Fed Delaying Rate Hike Until 2018

August 17, 2017 | Bloomberg

Former Federal Reserve Governor Randy Kroszner, a professor at the University of Chicago Booth School of Business, discusses Fed policy with Bloomberg's Vonnie Quinn and Nejra Cehic on "Bloomberg Markets."

How These Successful CEOs Learned to Lead Through Uncertainty

August 16, 2017 | Inc.

Policy-related uncertainty is higher than it's been in decades, having intensified after the surprise election of Donald Trump, whose agenda and style of government differ significantly from what came before it, says Steven Davis, a professor of business economics at the University of Chicago's Booth School of Business.

Business leaders quit Trump panel; he hits back hard

August 15, 2017 | The Washington Post

“It’s certainly a sign that Trump’s more controversial stuff isn’t playing well with companies selling to middle America,” said (Austan) Goolsbee, now a professor at the University of Chicago.

It’s the Economy, Democrats, but Inequality Is Not the Issue

August 15, 2017 | The New York Times

It is hardly surprising that government — not Wall Street or big business — gets the blame. As noted in another study by economists at Princeton, the University of Chicago and the University of British Columbia, it is the government that mediates the competing interests of creditors and debtors.

How closely related are the twin deficits?

August 14, 2017 | Education Post

To help explore that question, Chicago Booth’s Initiative on Global Markets asked its Economic Experts Panel whether or not a reduction in the fiscal deficit would result in a lower trade deficit.

Why big companies may pose a threat to democracy and economic prosperity

August 11, 2017 | Livemint

Firms are seen as entities trying to maximize profits by managing resources efficiently. This benign definition might not hold for big companies, whose revenues rival that of governments, argues Luigi Zingales, professor of finance at the Chicago Booth School of Business.

3 Reasons to Study Change Management in B-School

August 10, 2017 | U.S. News

Stacey Kole, a clinical professor of economics and deputy dean of the full-time MBA program at the University of Chicago's Booth School of Business, says an excellent business school is one that not only discusses current business trends but also teaches survival strategies that will help students confront unanticipated changes throughout their business careers.

Why Some Banks Recover and Others Don't

August 10, 2017 | Bloomberg

In a recent paper, Bank of Italy's Emilia Bonaccorsi di Patti and the University of Chicago's Anil Kashyap found that banks which successfully recover from sharp drops in profitability have something in common: They avoid throwing good money after bad by resolutely shutting off credit to their riskiest clients.

Fed Will Face Questions if Inflation Stays Low, Konstam Says

August 10, 2017 | Bloomberg

Finally, Austan Goolsbee, a professor at the University of Chicago’s Booth School of Business, says the U.S. isn’t doing a great job about measuring part-time jobs in the labor economy.

The case for Medicare for all — plus 7 smaller steps to fix U.S. health care

August 8, 2017 | Salon

Richard Thaler, an economist at the University of Chicago School of Business, suggests a way to dispense with malpractice insurance pre­miums altogether: Those with a record of providing high-quality care at good value could apply to the government for a safe harbor from malpractice suits. Organi­zations that receive this status could require patients to waive their right to sue for adverse outcomes.

Women who are elite mathematicians are less likely than men to believe they’re elite mathematicians

August 8, 2017 | The Washington Post

In an op-ed, Devin Pope, professor of behavioral science and does research in behavioral economics, writes, "Women, as a now-former Google engineer recently reminded the world, are underrepresented in several mathematical fields, including physics, computer science and engineering. The causes of that under-representation are hotly debated, with barriers to entry and gender differences in test scores widely discussed as underlying reasons. But new data analysis underscores the importance of another factor in the gap: confidence."

The truth about the gender wage gap

August 8, 2017 | Vox

Nearly 10,000 people graduated with MBAs from University of Chicago’s Booth School of Business between 1990 and 2006.

Personal bankruptcies are down 50% in the US. Thanks, Obamacare?

August 7, 2017 | Quartz

Neale Mahoney, an associate professor of economics at the University of Chicago Booth School of Business, says 50% is probably too high a number to attribute solely to medical debt: the equivalent of about 382,000 annual medical-related bankruptcy filings last year.

14 Ways to Squeeze More Joy Out of Every Day

August 7, 2017 | TIME

In one 2014 study by Nicholas Epley of the University of Chicago Booth School of Business and the author of Mindwise: How We Understand What Others Think, Believe, Feel and Want, participants heading to work via train either refrained from engaging with fellow passengers or made conversation.

Washington dysfunction fuels uncertainty for businesses

August 7, 2017 | The Washington Post

“When policy uncertainty goes up, firms that are more exposed to the policy have a bigger pull back,” said Steven Davis, a professor of international business and economics at the University of Chicago Booth School of Business.

Is Dodd-Frank Crippling Banks or Saving Them?

August 4, 2017 | Fortune

“It is difficult to find systematic evidence from the recent crisis that involvement in proprietary trading increased the risk of failure,” wrote Randall S. Kroszner, a former member of the Board of Governors of the Federal Reserve and professor of economics at the University of Chicago Booth School of Business, in a recent academic paper.

Raghuram Rajan on the 'fault line' that threatens the world economy

August 3, 2017 | Financial Review

"I foray out from academia for a few years at a time and I'm always happy to return," he says from the University of Chicago Booth School of Business, where he has been a long-time professor of finance.

How much money you need to earn to be in the top 1% at every age

August 2, 2017 | Business Insider

A recent analysis from economists Thomas Picketty, Emmanuel Saez, and Gabriel Zucman cited by the University of Chicago’s Booth School of Business found that the bottom 50% of Americans saw zero income growth over the past 35 years.

General direction of Modi's reforms has been positive: Randall Kroszner, University of Chicago

August 1, 2017 | Economic Times

It will be valuable for the Fed to start cutting its balance sheet sooner rather than later so that they can do it gently in the back ground without scaring the markets like in 2013, said Randall S Kroszner, an economics professor at the University of Chicago's Booth School of Business.

Economists Are Cheating Their Profession

August 1, 2017 | Bloomberg

Just like regulators, economists can be captured by powerful corporations and individuals, as University of Chicago economist Luis Zingales has argued.

No, Maximizing the Stock Price Is Not Job 1 for Company Directors

August 1, 2017 | Bloomberg

Luigi Zingales of Chicago’s Booth School of Business and Oliver Hart of Harvard start with the proposition that company managers and boards do indeed have a fiduciary duty to shareholders, but their duty is to maximize the shareholders’ overall welfare, which includes things other than the value of their shares.

Uber CEOs and Shareholder Welfare

July 31, 2017 | Bloomberg

Or perhaps the shareholders do own the corporation, but its job is not to maximize their wealth. What would its job be, then? Oliver Hart of Harvard and Luigi Zingales of the University of Chicago answer: "Companies Should Maximize Shareholder Welfare Not Market Value."

Leadership Race Heats Up at Bank of Italy Draghi Once Headed

July 30, 2017 | Bloomberg 

The central-bank chief must be “able to successfully deal with Italy’s banking crisis, which isn’t over yet,” said Luigi Zingales, a professor at the University of Chicago Booth School of Business, who himself has been mentioned as a possible choice by Rome’s la Repubblica newspaper.

This Isn't Quite The Refutation Of Friedman's Shareholder Value Concept Some Seem To Think

July 29, 2017 | Forbes

In a new Stigler Center paper, Harvard Professor and Nobel laureate Oliver Hart and University of Chicago Booth School of Business Professor Luigi Zingales (Faculty Director of the Stigler Center and one of the editors of this blog) take a novel perspective to this question. While agreeing with Friedman’s premise that managers should care only about shareholders’ interest, Hart and Zingales reject the view that shareholders only care about money.

The Common Mistake That's Making Your Vacations Feel Shorter

July 29, 2017 | Travel and Leisure

For positive experiences, consumers are reluctant to eliminate categories, while the opposite is true for negative experiences because eliminating categories makes it feel like more of the experience has passed,” write authors Anuj K. Shah (University of Chicago Booth School of Business) and Adam L. Alter (New York University).

Consider the 3 C’s of Fit When Choosing a B-School

July 29, 2017 | Beat the GMAT

For example, the University of Chicago’s Booth School of Business offers a flexible curriculum that allows students to choose which courses to take and when based on their experience and career goals.

Goolsbee Says Bannon Tax Plan Sounds Like Window Dressing

July 28, 2017 | Bloomberg

Austan Goolsbee,economics professor at the University of Chicago Booth School, discusses the prospects for U.S. tax reform with Bloomberg's Julia Chatterley and Scarlet Fu on "Bloomberg Markets."

'The Whole Financial Planning Process Is Wrong,' Expert Says

July 28, 2017 | Forbes

University of Chicago behavioral economics professor Richard Thaler told me plainly that we’re not doing our job if we don’t know this stuff, and I believe the CFP® Board can do a lot to enhance their requisite training in this arena.

Need to increase population and productivity to get to 3%

July 21, 2017 | CNBC

Austan Goolsbee, Booth School of Business, and Ryan Streeter, American Enterprise Institute, provide perspective on what it takes to accelerate economic growth.

Should America’s Tech Giants Be Broken Up?

July 20, 2017 | Bloomberg Magazine

Luigi Zingales, director of the university’s Stigler Center, likes to remind people that the reason Google and Facebook were able to succeed is that the U.S. in 1998, under Bill Clinton, sued Microsoft Corp. for tying its web browser to its Windows operating system to undermine rival Netscape.

Is Guaranteed Income for All the Answer to Joblessness and Poverty?

July 18, 2017 | Scientific American

One such scenario is described in the following survey question, submitted in June 2016 to a panel of economists by the University of Chicago’s Booth School of Business: “Granting every American citizen over 21 years old a universal basic income of $13,000 a year—financed by eliminating all transfer programs (including Social Security, Medicare, Medicaid, housing subsidies, household welfare payments and farm and corporate subsidies)—would be a better policy than the status quo.” Only 2 percent of survey respondents agreed whereas 43 percent disagreed and 17 percent strongly disagreed.

Americans Are Choosing Paid Jobs Over Family Caregiving

July 18, 2017 | Bloomberg

The thing is, it doesn't seem to matter all that much for consumer spending, according to an analysis by economists including Amir Sufi and Atif Mian.

Trump administration unveils goals in renegotiating NAFTA

July 17, 2017 | The Washington Post

In a 2012 survey of 41 prominent economists by the University of Chicago, 85 percent agreed that Americans were better off under NAFTA than under previous trade rules. Only 5 percent said they were uncertain, and none disagreed.

Now we can measure economic policy uncertainty

July 12, 2017 | Marketplace

Scott Baker from the Kellogg School of Management at Northwestern University developed the index along with Nicholas Bloom at Stanford University and Steven Davis at the University of Chicago.

A tale of central banks and governors

July 12, 2017 | The Nation

Raghuram Rajan, a world-renowned economist (ex-chief economist of the IMF) with global authority through lectures (in leading institutions like Chicago’s Booth School, Princeton, etc.) and numerous prestigious publications on capital and monetary management, entrepreneurial innovation and on the role of a responsible government, was selected 4 years back.

Young men are working a lot less. It’s not just because of video games

July 12, 2017 | Quartz

The researchers—Kerwin Kofi Charles and Erik Hurst of the University of Chicago, Mark Aguiar of Princeton, and Mark Bils of the University of Rochester—start with the observation that the hours worked by young men aged 21 to 30 have fallen 12% from their peak in 2000 to 2015. For older men aged 31 to 55, the fall in hours worked was 8% over the same period.

U.S. Schools With The Most International Students

July 10, 2017 | Poets & Quants

The University of Chicago’s Booth School of Business, for example, has about 414 international students (34.9% of total full-time enrollment), while Columbia Business School has 372 (48%), Duke University’s Fuqua School of Business has 343 (38.3%), Harvard Business School has 331 (35%), MIT’s Sloan School of Management has 312 (38.6%), both Yale University School of Management (36.9%) and the University of Michigan’s Ross School of Business (32%) have 256, and UCLA’s Anderson School of Management has 230 (31.3%).

How Yale SOM Crashed The M7 Party

July 10, 2017 | Poets & Quants

It’s a sign of the times. The top three undergraduate universities have long been known by the shorthand HYP (Harvard, Yale and Princeton), while the top three business schools have gone by the acronym HSW, obviously meaning Harvard, Stanford, and Wharton. In recent years, the University of Chicago’s Booth School of Business has come on so strong that many think the W has fallen off the acronym.

Don’t feel guilty about your to-do list this weekend—research shows play before work is just as much fun.

July 8, 2017 | Quartz

New research from the University of Chicago Booth School of Business suggests that may not be the case. Researchers found that while people expect to enjoy fun activities more if they’ve completed work first, play before work is in fact just as fun as its opposite.

It’s the Little Things That Can Color an Investor’s Outlook

July 7, 2017 | The Wall Street Journal

Does this sound far-fetched? More often than any of us care to admit, investors’ behavior is shaped by what Richard Thaler, an economist at the University of Chicago Booth School of Business, calls SIFs, “supposedly irrelevant factors” rooted in mood and emotion.

A Study Encourages You to Have Fun First and Finish Your Work Later

July 7, 2017 | New York Magazine

Fun stuff is just as fun even if you haven’t “earned” it. Ed O’Brien, a professor at the Chicago Booth School of Business, co-authored this new study, published in Psychological Science, and he wrote about his work this week for Harvard Business Review.

The unexpected economic consequences of video games

July 7, 2017 | Vox

“There has been a lot of research on how technology affects labor demand, how robots are displacing workers,” said Erik Hurst, an economist from the University of Chicago who was one of the researchers involved in the study, which was published Monday. “But no one had really looked at the effect of technology on someone’s willingness to work.”

As young men work less, are video games to blame?

July 7, 2017 | CBS News

"When we look in the data, you see for young men this huge shift in time spent toward computer activities," which is primarily due to computer games, said Erik Hurst, a professor of economics at the University of Chicago Booth School of Business and one of the authors of the paper, published at the National Bureau of Economic Research. "Time changes are usually more gradual, and the heart of the paper is trying to disentangle why this change occurred."

Fantasy gaming beats having a job

July 7, 2017 | Financial Times

This week, four economists — Mark Aguiar, Mark Bils, Kerwin Kofi Charles and Erik Hurst — published their latest research paper studying the impact of awesome computer games on the US job market.

America's Priciest National Pastime

July 3, 2017 | U.S. News and World Report

In fact, there are few policy topics on which economists agree more – only one out of 35 of the top economists polled by the University of Chicago Booth School of Business believes that the benefits of sports subsidies outweigh their costs to taxpayers.

A Way to Own Your Social-Media Data

June 30, 2017 | The New York Times

For a 21st-century problem, we suggest a 21st-century solution: a reallocation of property rights via legislation to provide more incentives to compete.

Must We Delay Gratification? Maybe Not

June 21, 2017 | Psychology Today

In the new study, published this week in Psychological Science, Ed O’Brien, a social psychologist at the University of Chicago Booth School of Business, set up a series of experiments with a colleague to test whether delaying gratification pays off the way we expect.

It's Time Ontario Courts Truly Rid Spousal Support Of Gender Bias

June 21, 2017 | Huffington Post

In 2013, the University of Chicago Booth School of Business published a paper that looked at 4,000 married couples in America. It found that once a woman started to earn more than her husband, divorce rates increased.

Trump Move on Job Training Brings ‘Skills Gap’ Debate to the Fore

June 15, 2017 | The New York Times

Steven J. Davis, an economist at the University of Chicago, helped create an index showing that the average time it takes to fill a job is the longest since January 2001.

Are Democrats Really Better For The Market?

June 7, 2017 | Financial Advisor Magazine

The Research Affiliates’ study doesn’t disprove the impact of politics on the U.S. market, according to Pietro Veronesi at the University of Chicago Booth School of Business. Veronesi, with his colleague Lubos Pastor, have posited that investors demand higher equity risk premiums in the U.S. under Democratic presidents, due in part to expectations of higher tax rates.

10 MBA Programs With the Highest Signing Bonuses

June 6, 2017 | U.S. News & World Report

Chicago Booth ranks 3rd.

The powerful interests fighting tax simplification

June 5, 2017 | Marketplace

"When you're doing your taxes, you're just the IRS' lowest-paid employee," said Austan Goolsbee, a professor of economics at the University of Chicago and former chairman of Obama's Council of Economic Advisers. "All you’re doing is typing in information they already have."

Get Started: After downturn is a good time to start business

June 5, 2017 | Associated Press

Companies founded from 2009 to 2011 had a nearly 51 percent chance of still being in business five years later, almost 3 percent higher than the average survival of a company for the previous 15 years, according to Waverly Deutsch, a professor of entrepreneurship at Booth.

Why Investors Shouldn’t Give Up on Momentum Investing

June 4, 2017 | The Wall Street Journal

According to data compiled by Eugene Fama, a finance professor at the University of Chicago Booth School of Business, and Kenneth French, a finance professor at Dartmouth College’s Tuck School of Business, the decile of stocks with the highest momentum beat the S&P 500 by just 1.3 percentage points over the 10 years through March 31 of this year (before transaction costs).

Sears retirees fear demise of store they loved

June 2, 2017 | Chicago Tribune

"It was a great business until the people at the top decided that strategy didn't matter for them and that they would forever be able to play the same game and win," said James Schrager, clinical professor of entrepreneurship and strategy at the University of Chicago's Booth School of Business.

Former 'climate bad boy' China may benefit as US leaves Paris deal

June 1, 2017 | CNBC

Indeed, low natural gas prices are expected to support further U.S. emissions reductions, noted Randy Kroszner, economics professor at the University of Chicago and former Federal Reserve Governor. In fact, he added, Beijing is the one most in need of reform: "The key for world climate change is China."

When It Comes To Financial Planning, Should You Be Active Or Passive?

May 30, 2017 | Forbes

Research done by Professors Eugene Fama at the University of Chicago and Kenneth French at the Tuck School of Business at Dartmouth College have presented findings that suggest strong returns of actively managed mutual funds is more due to luck and not skill. If Fama and French are correct, your investments is not the place to be active.

Why Regime Uncertainty Will Eventually Sink Trump and the Markets

May 29, 2017 | Forbes

Thanks to Scott R. Baker of Northwestern University, Nicholas Bloom of Stanford University and Steven J. Davis of the University of Chicago, we have a measure or proxy for Higgs’s regime uncertainty.

In Good Company: Ex-IMF chief economist Raghuram Rajan, the man who foresaw 2008 financial crisis

May 28, 2017 | Strait Times

Among the speakers that year was Dr Raghuram Rajan, the chief economist of the International Monetary Fund who was given the job two years earlier at age 40. It was meant to be a celebration of the Greenspan era but what the audience, which included Mr Greenspan, heard from Dr Rajan was a prognosis of dire tidings to come.

Top economist warns of 'explosion in leverage'

May 27, 2017 | Strait Times

The AMPF, held at the Shangri-La Hotel, is co-organised by the University of Chicago Booth School of Business, the National University of Singapore Business School and the Monetary Authority of Singapore.

Split Decision: The Pros and Cons of Splitting Shares

May 26, 2017 | The Wall Street Journal

“I used to go around asking CFOs why they had split their stock, and their tried-and-true answer was usually that investors expected them to be in some range,” said economist Richard Thaler of the University of Chicago Booth School of Business, who co-authored an academic paper on stock splits with Mr. Weld in 2009. Mr. Thaler isn’t convinced: “That never made sense to me.”

RBI ex-chief Rajan: In a post-crisis world, this is where the new economic risks are

May 26, 2017 | CNBC

"Banks are in a much safer place than they were. The problem is the overall level of risk in the economy hasn't diminished considerably. If you make the banks safer, it has to go somewhere else," said < a href="https://www.chicagobooth.edu/faculty/directory/r/raghuram-g-rajan">Rajan, who is currently a professor of finance at the University of Chicago Booth School of Business.

Tech Insiders Call Out Facebook for Literally Manipulating Your Brain

May 25, 2017 | NPR

She pointed to the plummeting employment rate of young men as one macro-development related to iGen, and cited the work of University of Chicago economist Erik Hurst. Last year, in a university profile, Hurst discussed his research on the dwindling percentage of young males without a college degree in the labor force and this trend’s connection to leisure-time technology.

Trump's Budget Has 'Savagery to It,' Says Goolsbee

May 23, 2017 | Bloomberg

University of Chicago Booth School Professor Austan Goolsbee, former chairman of President's Council of Economic Advisors under President Barack Obama, discusses President Donald Trump's 2018 budget.

Booth alum donates $20M to University of Chicago social innovation center

May 22, 2017 | Chicago Tribune

Indonesian entrepreneur Tandean Rustandy, who earned an MBA from the University of Chicago's Booth School of Business in 2007, has donated $20 million to the school's social innovation center.

Zingales Says A Lot of People Left Out of U.K. Growth

May 19, 2017 | Bloomberg

Luigi Zingales, professor at University of Chicago Booth School of Business, discusses Brexit and the Tory Party’s manifesto.

President Trump Is Strongly Committed to NATO, Stoltenberg Says

May 19, 2017 | Bloomberg

Luigi Zingales, a professor at University of Chicago’s Booth School of Business, says Republicans have been missing in action in keeping Trump in check.

Silicon Valley has too much power

May 15, 2017 | Financial Times

But as University of Chicago Booth School professor Luigi Zingales, who recently organised a conference around corporate power and its dampening effect on the economy, points out: “It’s not that we don’t pay for digital services — we do pay dearly, with our data, and our attention.”

Trump’s worst lie about ‘priming the pump’ isn’t that he made up the expression

May 13, 2017 | Washington Post

In fact, in a recent paper, University of Chicago Booth School of Business economics professor Owen Zidar looked at changes to the tax code over the postwar period, with an eye toward comparing the economic effects of tax cuts felt by the rich vs. the poor. He found that the relationship between tax cuts and job growth is primarily driven by cuts for lower-income groups and that the economic effects of tax cuts for the top 10 percent are tiny.

CNN’s Stephen Moore accidentally confirms Trump was lying about commitment to protect Medicaid

May 13, 2017 | Salon

During the May 8 edition of CNN Newsroom, Moore — CNN’s “senior economics analyst” — was joined by University of Chicago economist Austan Goolsbee to discuss the merits of billionaire businessman and philanthropist Warren Buffett’s argument that the Trump health care agenda amounts to little more than a tax cut for the rich funded by cuts to health care subsidies for low-income Americans.

Treasury's Mnuchin Said to Push Volcker Rule Review

May 12, 2017 | Bloomberg

University of Chicago Booth School of Business Professor Randy Kroszner discusses what’s good and bad in the Volcker Rule as Treasury Secretary Steven Mnuchin is said to have begun a review of the rule.

Our future selves are strangers to us

May 11, 2017 | Livemint

Oleg Urminsky of The University of Chicago Booth School of Business believes that people have a positivity bias about future.

Here’s what flight crews — and passengers — can learn from United dragging and viral airline incidents that followed

May 10, 2017 | New York Daily News

John Paul Rollert, an adjunct professor at the University of Chicago’s Booth School of Business and author of a blistering takedown of Spirit Airlines, says the ease of filming such interactions means airlines “have to get used to the fact that people are watching at all times.”

'All the Men Here Are Either on Drugs or Unemployed'

May 9, 2017 | The Atlantic

“There is no doubt that men are working much less during the 2000s, and it doesn’t look like it’s a cyclical pattern as much as it is structural,” said Erik Hurst, an economist at the University of Chicago’s Booth School of Business.

House Republicans struggle with costs of tax overhaul

May 8, 2017 | The Washington Post

Out of 42 top economists surveyed by the Initiative on Global Markets at the University of Chicago Booth School of Business, 37 said Trump’s proposal would not pay for itself through added growth. The other five did not answer the question.

35 of 37 economists said Trump was wrong. The other two misread the question.

May 8, 2017 | The Washington Post

The University of Chicago's Booth School of Business regularly polls economists on controversial questions. In a survey the school published last week on Trump's tax plans, only two out of the 37 economists that responded said that the cuts would stimulate the economy enough to cancel out the effect on total tax revenue.

Those two economists now both say they made a mistake, and that they misunderstood the question.

Survey: Just 5 percent of economists believe Trump’s big tax promise

May 4, 2017 | The Washington Post

The figures were published Tuesday by Chicago's Initiative on Global Markets, which regularly polls a panel of prominent economists for their opinions on issues in the news.

How uncertain Trump policy affects Fed decision making

May 3, 2017 | CNBC

Former Fed governor Randy Kroszner says the uncertainty has not bothered the stock markets so the Fed may have a similarly positive view about U.S. growth.

Why You Can Never Find a Dinner Reservation for 7 P.M. Online

May 2, 2017 | Bloomberg

One of the people that I like talking to is Richard Thaler, who is a behavioral economist. The way that people think they behave and the way they actually behave are often two different things.

Why Trump's obsession with trade deficits is misguided

May 2, 2017 | Los Angeles Times

“We have to focus on upgrading skills of American workers,” said Raghuram Rajan, a University of Chicago professor and former governor of India’s central bank. A lot of the new jobs, he added, are in the service industry, but getting them into rural areas and smaller communities is a big challenge. “These are important questions that the administration has to ask.”

Trump’s Trade Warrior Is the Most Unpopular Economist in the Class

May 2, 2017 | Bloomberg

In 2012, 95 percent of leading economists surveyed by the University of Chicago Booth School of Business agreed with the following statement: “Freer trade improves productive efficiency and offers consumers better choices, and in the long run these gains are much larger than any effects on employment.”

Idleness makes people unhappy, yet they need a justification to be busy

May 1, 2017 | Live Mint

That is because working towards a comfortable retirement maybe a mere justification for keeping busy. Chicago Booth professor Christopher Hsee says that an important reason people engage in activities is that they dislike being idle.

How to Trick People Into Saving Money

May 2017 | The Atlantic

Richard Thaler, an economist at the University of Chicago and one of the field’s pioneers, told The Wall Street Journal in 2015 that saving for retirement is “a prototypical behavioral-economics problem” because it is “cognitively hard—figuring out how much to save—and requires self-control.”

Give the poor a tax cut

April 30, 2017 | Money Week

That’s a shame because, as a new study shows, cutting taxes on the poor is a good way to boost economic growth. Owen Zidar, an assistant professor of economics at the University of Chicago Booth School of Business, looked at tax cuts in the US for the postwar period, then at their impact on different states. He found that a lot more jobs were generated in the poorer states for each tax cut than in the richer ones.

U.S. Economy Grows At Weakest Rate In Past 3 Years

April 28, 2017 | NPR

RANDALL KROSZNER: The U.S. economy is an enormous, massive thing, and to try to get all the numbers together really quickly is pretty tough.

Risky draft move: Seahawks’ trades out of 1st round put brain trust in the heat

April 28, 2017 | Seattle Times

The Seahawks even have an academic validation for their MO. In his 2016 book “Misbehaving,” University of Chicago economist Richard H. Thaler argues that teams should always trade out of the first round for multiple picks in the second or later rounds.

TRUMP’S TAX CUTS IGNORE HISTORY AND ARITHMETIC TO MAKE THE RICH RICHER

April 27, 2017 | Newsweek

In fact, in a 1999 analysis of six tax changes since 1922, University of Chicago economist Austan Goolsbee found that it was quite unlikely the government would raise more revenue that would offset increasing deficits by cutting marginal tax rates below where they are now.

Global economy: Spring breaks through the political storm

April 21, 2017 | Financial Times

“What is different this time is that all the engines are firing for the first time,” says Raghuram Rajan, a former Indian central bank governor and IMF chief economist. “They are not firing very strongly. But they are firing.”

Wall Street to Millennials: Don't fear the stock market

April 17, 2017 | USA Today

“I don’t think there is any reason to believe Millennials are more risk averse than other (generational) cohorts,” says Richard Thaler, a professor at the University of Chicago’s Booth School of Business.

How Not to Feel Lonely: 50 Science-Backed Tips Everyone Should Read

April 24, 2017 | Readers Digest

"It's easy to imagine all the ways things will go badly or believe that this person doesn't want to connect," Nicholas Epley, a professor of behavioral science at the University of Chicago Booth School of Business told the New York Times. But if you reach out, he continued, "almost everybody reaches back."

If The MBA Admissions Office Applied To Business School: Chicago Booth

April 21, 2017 | Forbes

The distinct Booth experience is something that the school’s Associate Dean for Student Recruitment and Admissions, Kurt Ahlm is keenly aware of as he and his team put together the application each year

Millennial women are 'worried,' 'ashamed' of out-earning boyfriends and husbands

April 18, 2017 | CNBC

She summarized University of Chicago Booth School of Business findings for NPR, saying that, in their sample, dissatisfaction increased, and could lead to divorce, "once a woman started to earn more than her husband."

AUSTAN GOOLSBEE - THE REALITY OF A TRUMP ECONOMY - EXTENDED INTERVIEW

April 17, 2017 | Daily Show

Former Obama administration economist Austan Goolsbee weighs in on how President Trump's budget affects the economy and talks about the U.S.'s changing workforce.

Where Wall Street Gets Its Finance MBAs

April 17, 2017 | Poets & Quants

Now it’s putting some distance between it and the next biggest finance factory: In 2016 the second-most finance MBAs came not from the Northeast but the Midwest, the University of Chicago’s Booth School of Business, which moved up to 35.0% from 34.8% in 2015.

Tax Cuts Don't Work the Way Free Marketers Expect

April 17, 2017 | Bloomberg

A recent paper by the University of Chicago Booth School of Business professor Owen Zidar demonstrates the differences between cutting taxes for the well-off and cutting them for those of modest means.

Why You Trust Email Way More Than You Should

April 17, 2017 | New York Magazine

Nicholas Epley, a psychologist at the University of Chicago’s Booth School of Business, thinks many people see email as a less anxiety-inducing form of talking.

The University of Chicago worries about a lack of competition

April 12, 2017 | The Economist

ONE sign that monopolies are a problem in America is that the University of Chicago has just held a summit on the threat that they may pose to the world’s biggest economy.

United Isn’t Alone in Treating Its Passengers Like Garbage

April 12, 2017 | Fortune

Commentary by John Paul Rollert. United has now offered Dao a sincere apology—Munoz said Wednesday morning that he felt “shame” over the incident—and one suspects they will soon be offering him a lot of money too. He deserves it. He deserved better. The rest of us do too.

Biased bots: Human prejudices sneak into artificial intelligence systems

April 12, 2017 | PhysOrg

Another objectionable example harkens back to a well-known 2004 paper by Marianne Bertrand of the University of Chicago Booth School of Business and Sendhil Mullainathan of Harvard University. The economists sent out close to 5,000 identical resumes to 1,300 job advertisements, changing only the applicants' names to be either traditionally European American or African American.

Is U.S. Tax Reform in 2017 Plausible?

April 12, 2017 | Bloomberg

Austan Goolsbee, economics professor at University of Chicago, and Douglas Holtz-Eakin, president of American Action Forum, discuss the difficulty of trying to get tax reform in the U.S.

Economists Pen Immigration Letter to Trump and Congress

April 12, 2017 | Bloomberg/Yahoo!

Austan Goolsbee, economics professor at University of Chicago, and Douglas Holtz-Eakin, president of American Action Forum, discuss a letter penned by multiple economist to politicians about the merits of immigration for the U.S.

The rise of ETFs may be a cause of record-low volatility

April 10, 2017 | CNBC

"If there is excess volatility due to non-fundamental reasons, eliminating it will result in lower volatility and more efficient markets," Stefano Giglio, associate professor of finance at the University of Chicago's Booth School at Business, wrote to CNBC on Monday.

The Fundamental Problems of the Financial Crisis Are Still with Us

April 7, 2017 | Finanz und Wirtschaft

Raghuram Rajan, Professor of Finance at the University of Chicago and former governor of the Reserve Bank of India, warns of more turmoil ahead if the developed world fails to adapt to the fundamental forces of global change.

 

Nobel Laureate Eugene Fama: Markets are efficient, regulation is the problem

April 7, 2017 | TREND Magazine

Eugene Fama is a living legend of modern finance theory. He has been teaching at the University of Chicago Booth School of Business for over 50 years, having earned tenure at the age of 26. He has worked alongside celebrity professors such as Friedrich von Hayek, Milton Friedman, Ronald Coase, and Gary Becker.

Happy Meals and Glass-Steagall

April 6, 2017 | Bloomberg

The short answer is: rarely. Research by University of Illinois’s Petro Lisowsky and Chicago Booth’s Michael Minnis demonstrates that almost two-thirds of medium-to-larger private companies choose not to produce audited GAAP statements.

Mental Pitfalls That Thwart Making Smart Financial Decisions

April 6, 2017 | Forbes

I first heard the noted American economist and author Dr. Richard Thaler give a speech about something called “behavioral finance” over 20 years ago. It was my introduction to a new field of research in economics.

Accounting cops have tough task of cracking down on corporate fraud

April 6, 2017 | Chicago Tribune

Even with new anti-corruption regulations, it's estimated that one out of seven firms suffers from ongoing fraud, according to an August 2014 research paper co-written by Luigi Zingales, a professor at the University of Chicago. (Experts from the University of Toronto and University of California at Berkeley also contributed).

10 things you need to know today

April 6, 2017 | Business Insider

New analysis from Poets and Quants shows that graduates from elite MBA programs are being heavily recruited by tech firms. For instance, over the past five years, Amazon has hired 445 MBA grads from Chicago, Northwestern, MIT, Columbia, Michigan, and Duke.

Try mental accounting to make your retirement dreams come true

April 5, 2017 | USA Today

“Mental accounting is essentially the household equivalent of financial accounting, but it is often done without conscious thought,” says Richard Thaler, a professor at the University of Chicago Booth School of Business and author of Misbehaving: The Making of Behavioral Economics.

The Busy Trap: How Keeping Busy Became a Status Symbol

April 3, 2017 | NBC News

"People dread idleness, and their professed reasons for activity may be mere justifications for keeping busy," University of Chicago professor of behavioral science and marketing Christopher Hsee observed.

Uber's Behavioral Experiment On Drivers May Raise Ethical Questions, But It Is Hardly Unique

April 3, 2017 | Forbes

These  aren’t totally uncharted waters. The University of Chicago’s Richard Thaler, one of the world’s leading behavioral economists, has suggested in the past where the line between incentivizing and manipulating lies.

If you talk to your pets, you're not an oddball - it's a sign of intelligence

April 3, 2017 | Metro

Dr Nicholas Epley, a professor of behavioral science at the University of Chicago told Quartz, "Historically, anthropomorphising has been treated as a sign of childishness or stupidity, but it's actually a natural byproduct of the tendency that makes humans uniquely smart on this planet.

Talking to your pets is a sign of intelligence, science reveals

April 3, 2017 | Country Living UK/Yahoo!/Cosmopolitan/Redbook

"Historically, anthropomorphising has been treated as a sign of childishness or stupidity, but it's actually a natural byproduct of the tendency that makes humans uniquely smart on this planet," Dr Nicholas Epley, a professor of behavioral science at the University of Chicago said.

People who talk to pets, plants, and cars are actually totally normal, according to science

March 31, 2017 | Quartz

“Historically, anthropomorphizing has been treated as a sign of childishness or stupidity, but it’s actually a natural byproduct of the tendency that makes humans uniquely smart on this planet,” says Nicholas Epley, a professor of behavioral science at the University of Chicago.

Who's a clever boy! Talking to your pets (and even your car) is a sign of social intelligence, scientists say 

March 31, 2017 | Daily Mail

Nicholas Epley, a professor of behavioral science at the University of Chicago and an anthropomorphism expert, told Quartz: 'Historically, anthropomorphizing has been treated as a sign of childishness or stupidity, but it’s actually a natural byproduct of the tendency that makes humans uniquely smart on this planet'. 

Here’s When You Should (And Shouldn’t) Ignore Other People’s Feedback

March 2, 2017 | Fast Company

“You need positive feedback if you’re unsure about your task commitment,” says University of Chicago behavioral scientist Ayelet Fishbach, “that is, if you think the task might be too challenging for you. You also need positive feedback if you’re a novice and have only recently started working on the task.”

The Quiet Bear Market in Bonds

March 21, 2017 | Bloomberg

Eugene Fama, the University of Chicago finance professor, proved the “expectations theory” in his groundbreaking research on spot and forward rates.

Better Video Games Could Be Driving Young Men Out of The Workforce

March 20, 2017 | Big Think

Despite the uncertainty, they actually report being happier than they were 15 years ago. So what’s making them content to stay out of work? Better video games, says Erik Hurst, an economist at the University of Chicago who co-authored a study on this shift in the labor supply:

The best grad schools 2018, from U.S. News & World Report

April/May 2017 | 1843 Magazine

What these individuals are not doing is clear enough, says Erik Hurst, an economist at the University of Chicago, who has been studying the phenomenon.

Women on Wall St. punished more severely than men for misdeeds

March 14, 2017 | CNBC

Women "walk a tightrope" in financial advisor jobs, where their bosses have less tolerance for missteps, said co-author Gregor Matvos of the University of Chicago.

3 Things Entrepreneurs Really Don't Need to Worry About at Work

March 14, 2017 | Inc.

Writing in the New York Times recently, Ayelet Fisbach, a professor at University of Chicago's Booth School of Business, notes: "People send résumés and go to interviews thinking that they care only about salaries and promotions.

The best grad schools 2018, from U.S. News & World Report

March 14, 2017 | US News & World Report

In the full-time MBA rankings,the Wharton School at the University of Pennsylvania moves up three places to tie with Harvard University at No. 1. The Booth School of Business at the University of Chicago follows at No. 3, while Stanford University, the Sloan School of Business at the Massachusetts Institute of Technology and the Kellogg School of Management at Northwestern University tie at No. 4.

University of Chicago Among U.S. News & World Report's 2018 Best Graduate Schools

March 14, 2017 | NBC

The University of Chicago's Booth School of Business ranked third in the business category of U.S. News & World Report's new list of the best graduate schools for 2018.

Wells Fargo 25% More Likely to Punish Women Employees than Men, Study Says

March 14, 2017 | Fortune Magazine

The study was conducted by finance professors Mark Egan of the University of Minnesota Carlson School of Management, Gregor Matvos of the University of Chicago Booth School of Business, and Amit Seru of Stanford Graduate School of Business.

The Best Executive MBA Programs Around The Globe That Will Grow Your Career

March 13, 2017 | Forbes

Kellogg’s Executive MBA program (#2), and Chicago Booth’s Executive MBA program (#3) maintained their positions in the global rankings, while also dominating the top spots in the Midwest regional ranking.

Everything Always Takes Longer Than You Think

March 13, 2017 | New York Magazine

A good explanation of this can be found in Mindwise, by University of Chicago psychologist Nicholas Epley.

Haas Tops U.S. News’ Part-Time MBAs

March 13, 2017 | Poets & Quants

Most importantly for the U.S. News ranking, Berkeley Haas retained its high peer assessment score of 4.5 out of 5. That score, calculated from a fall 2016 survey that asked B-school deans and MBA program directors at 360 part-time MBA programs to rate the other part-time programs, accounts for 50% of the total measure of each school. Only Chicago Booth, at 4.7, received a higher score than Haas.

New dean at U. of C.'s Booth School of Business: Stanford's Madhav Rajan

March 8, 2017 | Chicago Tribune

The University of Chicago's Booth School of Business has named a new dean, Stanford accounting scholar Madhav Rajan.

U of C's Booth appoints Madhav Rajan as dean

March 8, 2017 | Crain's Chicago Business

University of Chicago's Booth School of Business is turning again to Stanford University, picking a business school faculty member—and another native of India—to be its next dean.

Stanford’s Rajan Named Dean Of Chicago Booth

March 8, 2017 | Poets & Quants

When the University of Chicago’s Booth School of Business last needed a dean, it turned to Stanford University’s Graduate School of Business for one. Today (March 8), it went back to the GSB well and fished out yet another Stanford super star, Madhav V. Rajan, the school’s former senior associate dean for academic affairs.

The 19 most prestigious and powerful business degrees in the world in 2017

March 8, 2017 | Business Insider

T=17. University of Chicago — Climbing two places from its ranking of 19th in 2017, Chicago's business school has produced famous alumni including the founder of Oracle Larry Ellison.

The debate over the Affordable Care Act is really a debate over wealth redistribution

March 7, 2017 | Business Insider

By contrast, “the Republican plan, as outlined right now, really is centrally about income redistribution, of the reverse Robin Hood variety,” said Austan Goolsbee, a University of Chicago economics professor who was chairman of Obama’s Council of Economic Advisers.

Three Ways to Value Gold. Three Conclusions.

March 7, 2017 | The Wall Street Journal

Then three economics and finance professors—Scott Baker of Northwestern University, Nick Bloom of Stanford University and Steven Davis of the University of Chicago—created a series of Economic Policy Uncertainty, or EPU, indexes. And sure enough, according to Prof. Harvey, gold shows a modest historical correlation with the global version of the EPU.

Goolsbee: Hope inflation won't be the story of 2017

March 6, 2017 | CNBC

Discussing the inflation story in the U.S. as Trump economic policies take shape, with Austan Goolsbee, University of Chicago Booth School of Business economics professor

TRUMP’S MYSTERIOUS STOCK BOOM

March 6, 2017 | The New Yorker

Indeed, for all the business complaints about Obama’s actions during the Great Recession, work by the economists Atif Mian and Amir Sufi indicates that uncertainty about his policies had a trivial impact.

Why Happy Marriages And Relationships Are Key To Healthy And Positive Aging

February 28, 2017 | The Huffington Post

William J. Chopik from Michigan State University and Ed O’Brien from University of Chicago wanted to know if just living with a happy person could also affect a person’s health in a positive way.

Long lives mean endless demand for coaching

February 27, 2017 | Financial Times

Chris Lecatsas-Lyus, director of career management for Chicago Booth in Europe, is a psychotherapist and career coach. Alongside colleagues in Chicago and Hong Kong, she offers coaching to alumni facing career dilemmas at the business school’s three global campuses and for any age up to retirement — even beyond, in some cases.

Austan Goolsbee on Jobs: I Hope Trump Succeeds in Extending the Lead Obama Created

February 27, 2017 | FOX

Former Chairman of the Council of Economic Advisors and University of Chicago Booth School of Business’ Austan Goolsbee discussed the potential U.S. market and economic outlook under President Trump.

WHY EVER STOP PLAYING VIDEO GAMES

February 22, 2017 | New York Magazine

In June, Erik Hurst, a professor at the University of Chicago’s Booth School of Business, delivered a graduation address and later wrote an essay in which he publicized statistics showing that, compared with the beginning of the millennium, working-class men in their 20s were on average working four hours less per week and playing video games for three hours.

Policy making in India is like driving at 60 miles an hour on the highway: Raghuram Rajan

February 22, 2017 | Economic Times

During his stint as the Reserve Bank of India governor, Raghuram Rajan often found himself in the headlines. But after stepping down from the role and returning to academic life, he has judiciously stayed away from the media.

After April’s March for Science, what next for anti-Trump scientists?

February 22, 2017 | The Guardian

Writing on Italy’s experiences with Silvio Berlusconi, Luigi Zingales of the University of Chicago, argues that it is important to take the Trump Administration’s policy proposals seriously and to engage them substantively if they are to be effectively opposed or shaped.

I’ll Have What She’s Having: Shared Plates, Experiences Can Lead to Love

February 14, 2017 | WTTW

Ayelet Fishbach, University of Chicago Jeffrey Breckenridge Keller professor of behavioral science and marketing, joins us to talk about how applying a few principles learned from behavioral research can improve our relationships – romantic and otherwise.

Guess who inspired Raghuram Rajan to become an economist?

February 14, 2017 | The Economic Times

When Raghuram Rajan stepped down as the Reserve Bank of India’s governor in September last year, he left a gift for his successor — the gift of silence, to allow the new governor time and space to give voice to his ideas.

Why Falling Home Prices Could Be a Good Thing

February 10, 2017 | The New York Times

According to a recent paper by the economists Chang-Tai Hsieh, from the University of Chicago’s Booth School of Business, and Enrico Moretti, from the University of California, Berkeley, local land-use regulations reduce the United States’ economic output by as much as $1.5 trillion a year, or about 10 percent lower than it could be.

Why Eating The Same Food Increases People's Trust And Cooperation

February 2, 2017 | NPR

When you eat together, one thing that happens is that you're usually eating the same food as the other person. I was talking to Ayelet Fishbach at the University of Chicago. She told me that food has symbolic meaning all around the world.

Dashed Expectations Power White Anger

February 1, 2017 | NPR

To see why, take a look at the Financial Trust Index. A University of Chicago Booth School of Business team, headed by Paola Sapienza and Luigi Zingales, tracks how much people trust various economic entities -- banks, the stock market, mutual funds and large corporations.

Chicago Booth Professors Discuss Top Economic Challenges Facing the New President

January 31, 2017 | The Huffington Post

Early this year, University of Chicago Booth School of Business professors Amir Sufi, Marianne Bertrand, and Randall S. Kroszner convened at the New York Hilton Midtown to talk about the top economic challenges facing Donald Trump, the current President of the United States.

Geopolitical risks are no surprise: Ex-RBI chief Rajan

January 26, 2017 | Asian Review

For Raghuram Rajan, India's former rock star central banker, geopolitical risk is the primary worry in today's world. He ranks it ahead of a possible trade war and rising interest rates as reasons to lose sleep.

Kroszner: Trump to Reform, Not Deregulate Banks

January 26, 2017 | Bloomberg

Randall Kroszner, professor of economics at University of Chicago Booth School of Business, looks at U.S. President Donald Trump's ability to affect change on bank regulations and discusses concerns of a Chinese banking crisis.

Taiwan's sluggish economy 'on the brink of death', says economist

January 24, 2017 | The Straits Times

"The economy is facing a major crisis... it's on the brink of death... and while the economy is growing - slowly - workers' pay is still as stagnant as ever," said University of Chicago economist Hsieh Chang-tai.

Nobody Knows Why Markets Like Trump

January 23, 2017 | Bloomberg

To be sure, a booming stock market and a weak economy are not necessarily mutually exclusive. Investors could simply be expecting policies such as tax reform and deregulation to boost corporate profits, with little regard for the broader effect on growth. At least that's how economists interpreted the market's optimism in a recent poll by the Chicago Booth Business School.

CAN BEHAVIORAL SCIENCE HELP IN FLINT?

January 23, 2017 | The New Yorker

But, for all the field’s potential, its advances seemed mostly to have served the private sector. (And there they often veered toward sly consumer coercion.) A prominent exception was the “nudge,” a notion advanced by the legal scholar Cass R. Sunstein, now at Harvard Law School, and the University of Chicago behavioral economist Richard Thaler, in their 2008 best-seller “Nudge: Improving Decisions About Health, Wealth, and Happiness.”

Why mobile customers are better off under democratic govts

January 21, 2017 | Live Mint

A recent paper by Mara Faccio and Luigi Zingales, professors of finance at Purdue and Chicago universities, shows that government intervention in telecom markets is a common phenomenon in most countries.

For Donald Trump, Challenges Lurk in a Sturdy Economy

January 19, 2017 | The Wall Street Journal

Some economists say such intervention may be savvy politics but make markets less efficient. “We would expect such behavior from a dictator of a banana republic, not from the president-elect of the oldest democracy in the world,” said Luigi Zingales, a finance professor at the University of Chicago Booth School of Business.

How College Football Brings in Big Money for University Research

January 19, 2017 | Chicago Magazine

One of my favorite new data sets that illustrates this is in a recent working paper co-written by the University of Chicago’s Thomas Wollmann, an economist who works at its Booth School of Business. It correlates 40 college football teams’ performance in the AP poll (a weekly measure of how good the teams are compared to others) over 14 years with their colleges’ success in raising research funding (via this great dataviz roundup).

Trump's sponsorship strategy creates a climate of fear

January 19, 2017 | Welt.de

(Translated) Five years ago, Luigi Zingales predicted the victory of Donald Trump. But his colleagues just laughed. How did Zingales, a professor at the prestigious University of Chicago, come up with the idea? Perhaps because he is an economist - he argued that the weak economic growth encouraged the rise of populists.

3 MBA Admissions Trends You Need to Know for 2017

January 19, 2017 | Business Because

In many cases, schools like Harvard Business School are asking only a single MBA essay question. Some schools, like Chicago Booth, have gone even further in setting aside the traditional essay question for an alternate format.

US-China trade war could get ugly pretty fast: Rajan

January 16, 2017 | CNBC

Raghuram Rajan at The University of Chicago Booth School of Business talks about the prospects of a trade war and central bank independence.

Why these economists say the usual explanation for the financial crisis is wrong

January 16, 2017 | The Washington Post

Mian and a colleague, Amir Sufi at the University of Chicago, have argued that banks, confident they had a way to manage the risks, disproportionately increased lending to poor borrowers. To make their monthly payments, these households began skimping on other expenses, slowing the pace of economic activity overall.

Fed Tightening Eases Stimulus Pressure Globally, Rajan Says

January 3, 2017 | Bloomberg

The Federal Reserve’s plan to further withdraw support for the U.S. economy will ease pressure on other major central banks to keep up their own “aggressive” monetary stimulus, former Reserve Bank of India Governor Raghuram Rajan said.

Face time with strangers can boost economy

January 1, 2017 | The Sydney Morning Herald

But research by Nicholas Epley, of the University of Chicago's Booth School of Business, and Juliana Schroeder, of the University of California, Berkeley's Haas School of Business, shows our instincts are wrong.